A VA home loan is a mortgage loan guaranteed by the Department of Veterans Affairs. It was designed to help the men and women of the U.S. armed forces buy, refinance or improve their homes. Because VA mortgages are backed by the government, the risk…
Who can qualify for a VA loan?
Who can qualify for a VA loan?
Zero money down.* Limited closing costs. No monthly mortgage insurance premiums. Borrower’s choice of a fixed-rate or adjustable-rate mortgage. Sounds nice, right? They’re all potential perks of financing your home with a VA loan, but you have to belong to a very particular subset of…
How to Save Money for a Down Payment: 7 Strategies
How to Save Money for a Down Payment: 7 Strategies
Saving for a down payment on a new home might feel daunting, but small daily changes can make a big difference when it comes to setting aside money for a large purchase. We rounded up seven strategies that make it simple to streamline your spending…
It’s already been a decade since the start of the Great Recession, and many former homeowners sidelined by foreclosure are ready to jump back in the market. If you’re one of them, first of all, hooray! Secondly, we’ve listed a few good first steps to…
Federal Housing Administration (FHA) and conventional (or conforming) home loans have long been the most common mortgage options on the market. But which one is right for you? First, it’s important to clear up a major misconception that an FHA home loan is only for…
What Down Payment is Needed for an FHA Loan?
What Down Payment is Needed for an FHA Loan?
Insured by the Federal Housing Administration (FHA), FHA loans are an attractive option for first-time and repeat homebuyers, as well as those interested in refinancing their current home loan. Many factors contribute to the popularity of FHA loans—chief among them being a lower down payment…